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Absolute Luxury Vs Aspirational Luxury

  By CHELNA KHATAU   Jun 18th 2012 at 6:00AM Style RATED
What's Hot: Absolute Luxury What's Not: Aspirational Luxury
Wow Factor: The world's seriously rich are looking for more exclusive, more indulgent experiences. So what they're looking for is a bespoke Bagwati-esque, hand-crafted bag with a price tag that comes with more than three zeros by Hermes or Chanel , shoes buy stiletto gurus like Guiseppe Zanotti or Brian Attwood or even one-of-a-kind collector's watches. They want the stuff that's available only to very, very few. To that end, any sort of luxury that's become 'common' has lost favour with them. 

Image courtesy: Reuters

Ouch Factor: Already certain luxury brands are perceived as 'common', because everyone wants them. Brands like Louis Vuitton are facing an identity crisis of sorts. They're trying to strike a balance between selling their highly-profitable monogram bags that have become a ubiquitous luxury accessory (see the Bollywood stars who love LV) and maintaining their uber-luxury brand image.  Already, discerning Chinese buyers, who make up a big chunk of luxury spenders, are shying away from LV and even Gucci.

Image courtesy: Reuters

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